Finally it’s your turn.
Let’s welcome Citigroup to the blockchain world.
After all who can resist the temptation of of the technology?
Citigroup Creates New Non-Custodial Bitcoin Product
Citigroup has reportedly developed a new way for institutional investors to gain exposure to Bitcoin without owning any, Business Insider reports September 10.
CITI’S ‘DIGITAL ASSET RECEIPT’
Citing “people familiar” with the bank’s “plans,” the publication reveals the US giant is aiming to leverage a version of traditional finance tool the American Depository Receipt (ADR) for Bitcoin, creating the Digital Asset Receipt (DAR).
“The foreign stock is held by a bank, which then issues the depository receipt. In this case, the cryptocurrency is held by a custodian and the DAR is issued by Citigroup,” it explains referencing the anonymous sources.
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